Real Estate Investing in Saint Michaels, Maryland (21624)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 21624 (Saint Michaels, MD)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High vacancy: 51.3% of homes vacant — above national norms.
- High price-to-rent: Price-to-rent ratio 31.8 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Saint Michaels, MD (21624)?
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Market Analysis: 21624 Saint Michaels
This part of Talbot County is not an easy win. The 21624 ZIP stands at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 21624 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
In the broader MD picture, 21624 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Meanwhile, 165 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
The right play in 21624 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Saint Michaels:
Market Trends
Home Value History (with trend line)
📊 How Does 21624 Compare?
| Metric | 21624 | Saint Michaels | Easton, MD | Maryland |
|---|---|---|---|---|
| Home Value | $483,916 | $612,146 | N/A | $424,997 |
| 5-Year CAGR | N/A | 6.1% | N/A | 4.9% |
| Avg Rent | $1,269 | $1,735 | N/A | - |
| Cap Rate | 2.1% | 2.2% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 21624 (Saint Michaels, MD). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $483,916 |
| Monthly Rent | $1,269 |
| Price-to-Rent | 31.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.2% |
| Cap Rate | 2.1% |
| 5-Year IRR | 4.6% |
📈 Home Appreciation
| 1-Year | +2.1% ▲ |
| 3-Year CAGR | +2.5% ▲ |
| 5-Year CAGR | N/A |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 21624
Population: 165
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Frequently Asked Questions
What is the average home sale price in Saint Michaels, MD?
Expect median prices around $484K in Saint Michaels, MD. The market has run at a 0.0% 5-year CAGR, so entry costs have been predictable.
Is Saint Michaels, MD a friendly market for rental owners?
Saint Michaels, MD falls under MD landlord-tenant law, which is landlord-friendly. That backdrop makes day-to-day property management reasonable.
How strong is tenant demand in Saint Michaels, MD?
Saint Michaels, MD draws a measured base of working renters. Demand at the $1,269/mo rent level is reasonable for standard single-family and small multi rentals.
Does a duplex house hack pencil in Saint Michaels, MD?
The a challenging house-hack environment in Saint Michaels, MD reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
Should investors consider Saint Michaels, MD?
The 2.0/5 investability rating in Saint Michaels, MD reflects its $484K prices and $1,269/mo rents. Investors generally consider it a solid option within MD.
You know 21624 now. You don’t know where it ranks.
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How 21624 ranks in Easton, MD
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